The deal will reportedly comprise of 50 percent stock and 50 percent cash, while parent company Deutsche Telekom AG will retain a 15 percent stake in marriage.

Softbank acquired Sprint last year for $21.6 billion (it holds an 80 percent stake in the company), and this upcoming Sprint deal is reportedly valued at around $41 billion. It was reported in late April that Softbank approached Goldman Sachs Group Inc., Citigroup Inc., JPMorgan Chase & Comp., Mizuho Financial Group Inc., Bank of America Corp., and Deutsche Bank to secure financing for the acquisition.